XRP Price Analysis Summary (August 3-4, 2025)
Overview:
* Current price: $XRP trading around $2.84, down about 4% in the last 24 hours. The market has seen fluctuations between $2.75 and $3.00.
* Market Dynamics: Selling activity was observed from institutions, leading to an increase in trading volume.
2.9961
+4.93%
Support and Resistance Levels:
* Support: There is strong support at $2.75.
* Resistance: Resistance ranges between $2.84 and $2.87, with psychological and technical resistance at $3.00.
Technical Indicators:
* RSI: Around 45, indicating bearish or neutral momentum.
* Chart Pattern: A "descending triangle" pattern is forming on the 4-hour frame, with the potential to test $3.32 in case of a breakout.
* MACD: Bearish crossover, indicating selling pressure in the short term.
Short-term forecast (August 4):
* General Trend: Predictions vary, but the majority indicate neutral to bearish movements.
* Coinlore: forecasts a price range between $2.73 and $2.74, with a target at $2.79.
* TradersUnion: predicts a slight decline of 3.5% to around $2.74.
* Changelly: predicts a slight increase of 0.33% to $2.94, with a positive outlook.
Overall Outlook:
* Most Likely Scenario: Neutral to bearish movements, testing support levels.
* Expected Support: $2.75, with a potential support range between $2.78 and $2.83.
* Potential resistance: between $2.84 and $2.87.
* Note: Accumulation around support levels is expected to continue. If the price fails to break through resistance, it may experience sideways movement or a slight decline.
Simply put: In the short term, there is anticipation and caution in the market $XRP . Prices may continue to fluctuate between support and resistance with a slight downward bias. Traders should monitor key support and resistance levels, as well as market reactions to any news or developments.
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